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- Gold Loan in Madurai
Gold Loan Madurai - SBI, HDFC, & All Gold Loan Providers
Loan Against Gold in Madurai
- Gold loan interest rate in Madurai starts at 9.50%.
- The LTV ratio for gold loans goes up to 75% of the value of the gold.
- You can avail a gold loan in Madurai from top Banks like SBI, Axis Bank, Yes Bank, PNB and ICICI Bank among others.
- Popular gold loan NBFCs in Madurai are Muthoot and Manapurram.
- Apply for Instant Gold Loan online in Madurai without income proof.
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Gold Loan in Madurai
Gold loan is a popular credit facility in Madurai. A number of banks and NBFCs offer gold loans in Madurai at affordable interest rates. The loan is availed by keeping the gold as a mortgage to borrow a loan amount as per the LTV ratio of the gold which ranges up to 75% as per RBI Guidelines. Gold loan interest rate in Madurai begins from 9.50%.
Documents Required for Gold Loan in Madurai
Gold loans are the easiest to avail credit facility in Madurai. This is because the loan can be borrowed by people from all occupations and backgrounds. Therefore, the document check is also limited to identity and address proofs.
A list of documents required to avail a gold loan in Madurai are mentioned as follows:
- Gold loan application form
- Passport size photographs
- Identity proofs such as Passport, voter ID card, PAN card and Aadhar card
- Address proof such as passport, driving license, aadhar card, rent agreement, Voter iD card and utility bills such as water electricity, gas, or telephone bill
Top Banks Offers Jewel Loan in Madurai
| Bank | Interest Rate | Loan Tenure | Maximum Loan Amount |
|---|---|---|---|
| Axis Bank | 13.50% | 24 months | ₹ 20 Lakh |
| ICICI Bank | 9.00% | 12 months | ₹ 10 Lakh |
| IndusInd Bank | 10.50% | 24 months | ₹ 10 Lakh |
| PNB | 8.75% | 12 months | ₹ 10 Lakh |
| SBI | 7.50% | 36 months | ₹ 50 Lakh |
| HDFC Bank | 9.50% | 24 months | ₹ 50 Lakh |
| Federal Bank | 8.50% | 12 months | ₹ 75 Lakh |
| Andhra Bank | 7.60% | 12 months | ₹ 2 Cr |
| Canara Bank | 7.35% | 12 months | ₹ 20 Lakh |
FAQs
✅What is the interest rate for gold loan Madurai?
Gold loan interest rate in Madurai varies across various gold loan lenders. However, currently, the lowest gold loan interest rate in Madurai is 9.50%.
✅Which bank is best for gold loan Madurai?
Currently, Axis Bank offers the lowest gold loan interest rate in Madurai of 9.50%. In addition to that, Axis Bank offers the maximum loan amount on Axis Bank gold loan of ₹ 2 Cr and can be the best bank for high-value loan requirements.
✅What is the maximum tenure for gold loan in Madurai?
You can get a loan against gold in Madurai for a maximum tenure of 36 months.
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